Market Daily Report: Bursa wraps up 2023 on softer note

KUALA LUMPUR (Dec 29): Bursa Malaysia wrapped up 2023 to close at its intraday low at 1,454,66 on Friday compared with the first-day opening this year at 1,488.54, weighed by persistent selling pressure throughout most part the year due to outflow of funds as a result of various rate hikes in the US, a dealer said.

Consequently, Rakuten Trade equity research vice president Thong Pak Leng said the FTSE Bursa Malaysia KLCI (FBM KLCI) fell to its year low of 1,374.64 on June 8, 2023, but the situation improved when foreign funds returned to the country at the beginning of July. 

At 5pm, the KLCI closed 2.75 points or 0.18% lower to 1,454.66 from Thursday’s close of 1,457.41.

The key index opened 0.16 of a point better at 1,457.57 and thereafter moved to a high of 1,461.4 during the early morning session.

In the broader market, losers surpassed gainers 486 to 431, while 453 counters were unchanged, 890 untraded and 45 others suspended.

Turnover went up to 4.67 billion units worth RM2.96 billion from 4.24 billion units worth RM2.39 billion on Thursday.

Thong said the KLCI reversed earlier gains and ended the year on a negative note due to profit taking while trading activities were subdued as some traders sought a head start on the New Year's festivities.

"Japan and Hong Kong also closed lower due to profit-taking activities. Meanwhile, investors are simultaneously assessing the prospects of electric-vehicle (EV) companies after China’s Xiaomi unveiled its first EV," he said.

On the domestic front, he said the benchmark index bounced off the 20-day Exponential Moving Average (EMA) line on Friday.

"With the 20-day EMA beginning to turn upward and the index moving away from all EMA lines, we believe there is upward momentum in the near term," he explained.

To recap 2023, Thong said the first half was a bad period because of the poor performance in the region as a result of the outflow of funds to the US when the interest rate was increased several times.

"The performance in the second half was better as the FBM KLCI tested the 1,465 level several times, supported by buying from foreign and institutional funds," he added.

Among the heavyweights, Maybank Bhd lost two sen to RM8.89, Petronas Chemicals Group Bhd fell five sen to RM7.16, while Public Bank Bhd and CIMB Group Holdings Bhd added a sen each to RM4.29 and RM5.85 respectively, and Tenaga Nasional Bhd gained four sen to RM10.04. 

Market Daily Report: Bursa ends higher for second straight day on bargain hunting

 KUALA LUMPUR (Dec 28): Bursa Malaysia closed higher for the second consecutive day as bargain-hunting activities emerged following the recent sell-off, a dealer said. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 3.19 points or 0.22% firmer to 1,457.41 from Wednesday’s close of 1,454.22.

The KLCI opened 0.36 of a point easier at 1,453.86 and moved between 1,453.06 and 1,459.1 throughout the day.

In the broader market, gainers surpassed losers 486 to 404, while 466 counters were unchanged, 945 untraded and 86 others suspended.

Turnover went up to 4.24 billion units worth RM2.39 billion from 3.29 billion units worth RM2.06 billion on Wednesday.

Nevertheless, Public Investment Bank Bhd said the KLCI is anticipated to tread sideways around the 1,455 horizon in the near term, swaying with market sentiment at this juncture.

Meanwhile, another dealer said the market movement is likely to be quite slow approaching the year-end, with slow inflow from both retail and institutional investors.

Market Daily Report: Bursa snaps four-day losing streak on bargain hunting

KUALA LUMPUR (Dec 27): Bursa Malaysia snapped a four-day losing streak to end higher on Wednesday, spurred by bargain hunting with signs of mild window-dressing activities while tracking the upbeat mood across regional markets.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 3.44 points or 0.24% firmer to 1,454.22 from Tuesday's close of 1,450.78.

The KLCI opened 1.59 points better at 1,452.37 and moved between 1,452.08 and 1,455.44 throughout the day.

In the broader market, gainers thumped losers 468 to 380, while 467 counters were unchanged, 988 untraded, and 56 others suspended.

Turnover jumped to 3.29 billion units worth RM2.06 billion from 2.91 billion units worth RM1.96 billion on Tuesday. 

Apex Securities Bhd head of research Kenneth Leong said the improved sentiment on Wall Street was also reflected in the positive performance of the regional markets including Bursa Malaysia, which further contributed to the gains in the local bourse.

“Going forward, we anticipate that further recovery is in store, with the key index likely to build on today's [Wednesday's] momentum.

“Window-dressing activities may propel the key index higher with sentiment favouring a potential interest cut in the United States,” he said.

Leong said that investors will be keeping a close tab on US pending home sales data to be released on Thursday (Dec 28).

“For now, trading activities is expected to remain thin for the remainder of the week on the back of the festive and year-end holidays,” he added.

From the technical perspective, he said the KLCI has formed a bullish candle to bounce off the 50-day simple moving average, of which further recovery may lift the key index towards the immediate resistance located at 1,465.

“Meanwhile, the near-term support is spotted at 1,430,” he said.

Among the heavyweights, Maybank Bhd and Public Bank Bhd were one sen higher at RM8.90 and RM4.25, respectively, CIMB Group Holdings Bhd rose two sen to RM5.80, and Tenaga Nasional Bhd was flat at RM10.

Of the actives, Sarawak Cable Industries Bhd improved 11 sen to 39 sen, Zelan Bhd perked up 1.5 sen at 8.5 sen, while SMTrack Bhd, Widad Group Bhd and Leform Bhd rose half a sen to 5.5 sen, 47.5 sen and 41.5 sen, respectively.

Market Daily Report: Bursa ends lower amid holiday-shortened week

KUALA LUMPUR (Dec 26): Bursa Malaysia ended lower on Tuesday amid muted trading as investors continued to stay on the sidelines due to the holiday-shortened week, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 3.6 points to end at its intraday low of 1,450.78 from Friday's (Dec 22) close of 1,454.38.

The KLCI opened 0.3 of a point easier at 1,454.08 and hit its day’s high of 1,456.66 thereafter before trending downwards towards closing.

In the broader market, losers outpaced gainers 454 to 376, while 447 counters were unchanged, 1,028 untraded and 15 others suspended.

Turnover eased to 2.91 billion units worth RM1.96 billion from 2.97 billion units worth RM1.84 billion on Friday

Apex Securities Bhd head of research Kenneth Leong said the local market was also dragged down by weakness in more than two-thirds of the key index constituents.

"Going forward, we expect the downward bias consolidation to persist in view of the lack of fresh leads,” he said. 

"Given that market activities appear to be tepid, we reckon that any potential recovery will be limited for the time being. Still, we do not discount for any potential year-end window dressing in the final trading days of 2023," he said. 

Meanwhile, Leong noted that investors would be keeping a close tab on Malaysia's producer price index data to be released on Wednesday.

Market Daily Report: Bursa ends lower in muted trading ahead of long weekend

KUALA LUMPUR (Dec 22): Bursa Malaysia ended marginally lower on Friday in a relatively quiet market ahead of the long weekend, with selling primarily observed in banking, gaming, and plantation stocks.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.2 points to 1,454.38 from Thursday’s close of 1,455.58. 

The KLCI opened 1.18 points firmer at 1,456.76 and moved between 1,451.99 and 1,457.86 throughout the day.

In the broader market, losers outpaced gainers 425 to 411, while 484 counters were unchanged, 986 untraded and 12 others suspended.

Turnover fell to 2.97 billion units worth RM1.84 billion from 3.06 billion units worth RM2.09 billion the previous day. 

Rakuten Trade equity research vice president Thong Pak Leng said the key regional indices trended mixed on quiet trading sessions ahead of the Christmas and New Year holidays.

"Simultaneously, investors are looking ahead to 2024 as a year of potential rate cuts in the United States.

"In Hong Kong, stocks finished lower as heavyweights Tencent and NetEase reacted negatively after China released draft rules to curb excessive gaming and spending," he said. 

Back home, Thong believed the recent sell-off provided opportunities for bargain hunters to accumulate stocks at lower levels.

"Furthermore, the benchmark index is currently trading at a forward 2024 price-earnings ratio of below 14 times, compared with its five-year average of 17 times, indicating more upside potential," he added. 

Market Daily Report: Bursa ends lower amid mixed regional markets

KUALA LUMPUR (Dec 21): Bursa Malaysia ended lower on Thursday on persistent selling pressure mainly in the financial services sector amid a mixed regional market performance.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 0.61% or 8.98 points to 1,455.58 from Wednesday's close of 1,464.56. 

The benchmark index had opened 1.39 points lower at 1,463.17 and moved between 1,454.97 and 1,463.17 throughout the day.

CIMB Group Holdings Bhd slid 10 sen to RM5.80, Hong Leong Bank Bhd fell 48 sen to RM18.98, Public Bank Bhd lost five sen to RM4.27 and Maybank Bhd erased eight sen to RM8.89. These counters dragged the composite index down by a combined 6.62 points.

In the broader market, losers outpaced gainers 434 to 390, while 487 counters were unchanged, 1,004 untraded and 21 others suspended.

Turnover fell to 3.06 billion units worth RM2.09 billion from 3.84 billion units worth RM2.67 billion the previous day. 

SPI Asset Management managing director Stephen Innes said that in the aftermath of the US sell-off, Malaysian markets are seeing declines.

“Investors are likely lessening their risks and taking profits as attention shifts to tomorrow's US personal consumption expenditures [PCE] inflation report.

“The tug-of-war between the Fed [that it’s not ready to cut rates that fast] and market-implied rate cut pricing could be swayed by evidence in the inflation data,” he said.

He said this week's PCE inflation figures hold the crucial key and are likely to steer market dynamics into an upside inflation surprise could challenge the Fed to counter expectations of a rate cut in March.

"In such a scenario, risk assets could rebound, and the year-end rally would likely regain momentum," he added. 

Market Daily Report: Bursa Malaysia snaps seven-day winning run to end marginally lower

KUALA LUMPUR (Dec 20): Bursa Malaysia ceded earlier gains to finish in the negative territory on Wednesday due to profit-taking activities in the late trading session, ending its seven-day winning streak.  

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.11 points to 1,464.56, from Tuesday (Dec 19)’s close of 1,465.67.

The benchmark index opened 0.76 of-a-point better at 1,466.43 and moved between 1,464.09 and 1,470.79 throughout the day.

In the broader market, losers surpassed gainers 465 to 411, while 491 counters were unchanged, 950 untraded, and 23 others suspended.

Turnover rose to 3.84 billion units worth RM2.67 billion, from 3.72 billion units worth RM2.42 billion on Tuesday. 

Rakuten Trade equity research vice-president Thong Pak Leng said the key regional indices closed mixed but was mostly higher earlier, buoyed by the upbeat Wall Street overnight and the Bank of Japan’s decision to keep its interest rate on hold being expected to lend support to Japanese stocks.

"Meanwhile, investors are awaiting a slew of economic data from the United States later this week to firm up their gauges on rate," he told Bernama.

On the local front, Thong said the FBM KLCI failed to hold above the crucial 1,465 resistance line. 

“We hope for a breakout from this line; if not, the benchmark index will further consolidate around that level for a short period, pending new catalysts.

Market Daily Report: Bursa extends winning streak to seventh day

KUALA LUMPUR (Dec 19): Bursa Malaysia ended higher on Tuesday, extending its winning streak for the seventh day.

SPI Asset Management managing director Stephen Innes said the Bank of Japan held its monetary policy steady, giving Asian bourses including Bursa Malaysia a slight boost late afternoon.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.39 of a point to 1,465.67 versus Monday's close of 1,465.28.

The FBM KLCI opened 1.28 points higher at 1,466.56 and moved between 1,464.55 and 1,467.61 throughout the day.

In the broader market, gainers beat losers 474 to 431, while 478 counters were unchanged, 933 untraded, and 12 others suspended.

Turnover fell to 3.72 billion units worth RM2.42 billion from 4.81 billion units worth RM3.02 billion on Monday.

Market Daily Report: Bursa closes higher, continues winning streak

KUALA LUMPUR (Dec 15): Bursa Malaysia ended higher on Friday, continuing its five-day winning streak, boosted by buying across the board amid improving global confidence, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 6.19 points to 1,462.45 compared with Thursday’s closing of 1,456.26.

The index barometer opened 0.31 of a point weaker at 1,455.95 and moved between 1,455.69 and 1,464.78 throughout the day.

In the broader market, gainers surpassed losers 528 to 425, while 460 counters were unchanged, 925 untraded, and 45 others suspended.

Turnover fell to 3.77 billion units worth RM3.4 billion from 4.25 billion units worth RM2.78 billion the previous day.

Rakuten Trade equity research vice president Thong Pak Leng said a dovish shift from the Federal Reserve (Fed), a lower US 10-year Treasury note yield and positive development from China have provided some support to the markets and increased investors’ risk appetite.

“Regionally, major indices recorded gains after the Fed maintained rates and outlined a plan for cuts in 2024 and beyond. Meanwhile, the 10-year Treasury note yield slipped below 4% for the first time since August as traders increasingly anticipate rate cuts in 2024.

“In addition, a substantial increase in China’s industrial output of 6.6% year-on-year against a Reuters poll of 5.6%, which is the highest since November 2022 and surpassing expectations, has further sparked investor sentiment,” he said. 

On regional equities, Hong Kong’s Hang Seng rose 2.49% to 16,810.44, South Korea’s Kospi added 0.76% to 2,563.56, Japan’s Nikkei 225 added 0.87% to 32,970.55, and Singapore’s Strait Times Index was 0.25%  better at 3,115.12.

On the homefront, heavyweights Maybank Bhd erased five sen at RM9, Tenaga Nasional Bhd lost two sen to RM9.95, Public Bank Bhd gained a sen at RM4.31, CIMB Group Holdings Bhd was two sen better at RM5.83 and Petronas Chemicals Group Bhd was unchanged at RM7.15.

Of the actives, Minetech Resources Bhd and Reneuco Bhd added 2.5 sen each to 12 sen and 24 sen, respectively, Sarawak Consolidated Industries Bhd improved two sen to 85 sen, Widad Group Bhd perked up a sen to 47 sen and Top Glove Corp Bhd lost one sen to 90 sen.

On the index board, the FBM Emas Index increased 48.21 points to 10,835.88, the FBMT 100 Index expanded 47.3 points to 10,502.27, and the FBM Emas Shariah Index strengthened 64.91 points to 10,969.75.

The FBM 70 Index improved 77.49 points to 14,474.12 and the FBM ACE Index expanded 41.35 points to 5,180.67. 

Sector-wise, the Financial Services Index went up 6.91 points to 16,436.96 and the Energy Index was 12.06 points better at 816.29.

The Industrial Products and Services Index added 0.74 of a point to 172.47 and the Plantation Index was 45.75 points better at 7,046.57.

The Main Market volume trimmed to 2.47 billion units valued at RM3.1 billion against 2.67 billion units valued at 2.42 billion on Thursday.

Warrants turnover declined to 666.24 million units worth RM102.66 million from 790.68 million units worth RM121.04 previously.

The ACE Market volume dwindled to 630.38 million shares valued at RM203.94 million versus 784.15 million shares valued at RM233.96 the previous day.

Consumer products and services counters accounted for 444.55 million shares traded on the Main Market, industrial products and services (633.26 million); construction (129.16 million); technology (186.04 million); SPAC (nil); financial services (130.66 million); property (214.96 million); plantation (29.41 million); REITs (17.22 million), closed/fund (4,500); energy (209.73 million); healthcare (245.51 million); telecommunications and media (50.18 million); transportation and logistics (37.19 million); and utilities (139.22 million).

Source: The Edge

Market Daily Report: Bursa closes higher, continues winning streak

KUALA LUMPUR (Dec 15): Bursa Malaysia ended higher on Friday, continuing its five-day winning streak, boosted by buying across the board amid improving global confidence, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 6.19 points to 1,462.45 compared with Thursday’s closing of 1,456.26.

The index barometer opened 0.31 of a point weaker at 1,455.95 and moved between 1,455.69 and 1,464.78 throughout the day.

In the broader market, gainers surpassed losers 528 to 425, while 460 counters were unchanged, 925 untraded, and 45 others suspended.

Turnover fell to 3.77 billion units worth RM3.4 billion from 4.25 billion units worth RM2.78 billion the previous day.

Rakuten Trade equity research vice president Thong Pak Leng said a dovish shift from the Federal Reserve (Fed), a lower US 10-year Treasury note yield and positive development from China have provided some support to the markets and increased investors’ risk appetite.

“Regionally, major indices recorded gains after the Fed maintained rates and outlined a plan for cuts in 2024 and beyond. Meanwhile, the 10-year Treasury note yield slipped below 4% for the first time since August as traders increasingly anticipate rate cuts in 2024.

“In addition, a substantial increase in China’s industrial output of 6.6% year-on-year against a Reuters poll of 5.6%, which is the highest since November 2022 and surpassing expectations, has further sparked investor sentiment,” he said. 

Market Daily Report: Bursa closes at intra-day high, tracking regional peers

KUALA LUMPUR (Dec 14): Bursa Malaysia closed on a positive note on Thursday, hitting an intraday high after taking signals from key regional indices, which were generally in the green following a positive cue from Wall Street overnight as the Federal Open Market Committee (FOMC) kept its interest rate steady.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.57% or 8.22 points to 1,456.26 compared with Wednesday's closing of 1,448.04.

The key index opened 0.84 of a point better at 1,448.88 and moved between 1,448.14 and 1,456.26 throughout the day.

In the broader market, gainers thumped losers 567 to 352, while 452 counters were unchanged, 973 untraded, and 37 others suspended.

Turnover surged to 4.25 billion units worth RM2.78 billion from 3.76 billion units worth RM2.40 billion on Wednesday.

Rakuten Trade equity research vice-president Thong Pak Leng said the two primary takeaways from the two-day FOMC meeting were that interest rates remained steady and that the US Federal Reserve indicated it will begin decreasing interest rates next year, which sparked a rally on Wall Street, with the Dow Jones index finishing at a new high.

“With the rate cut in the US, we expect foreign funds to return to the region due to the attractive valuations of the regional markets and better economic growth. Hence, we expect Malaysia to benefit from the spillover effect, which will have a positive impact on the local market,” he told Bernama.

Thong added that with the renewed optimism, the FBM KLCI is anticipated to trend within the range of 1,455-1,465 towards the weekend.

Regionally, Hong Kong’s Hang Seng fell 1.07% to 16,402.19, Singapore’s Strait Times Index was 0.66% better at 3,124.65, South Korea’s Kospi added 1.34% to 2,544.18, however, Japan’s Nikkei 225 lost 0.73% to 32,686.25.

Among heavyweights, Malayan Banking Bhd was two sen lower at RM9.05 but Public Bank Bhd added four sen at RM4.30, CIMB Group Holdings Bhd gained two sen at RM5.81, Tenaga Nasional Bhd was nine sen better at RM9.97 and Petronas Chemicals Group Bhd was flat at RM7.15.

Of the actives, Sapura Energy Bhd was flat at five sen, Top Glove Corp Bhd added 3.5 sen at 91 sen, Velesto Energy Bhd increased one sen to 22.5 sen and SMTrack Bhd was one sen higher at five sen.

Market Daily Report: Bursa closes higher on late buying

KUALA LUMPUR (Dec 13): Bursa Malaysia reversed earlier losses to finish in positive territory due to late buying after experiencing choppy trading throughout the day, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.92 of-a-point to 1,448.04 compared with Tuesday's closing of 1,447.12.

The key index opened 1.04 points easier at 1,446.08 and moved between 1,443.72 and 1,448.48 throughout the day.

The broader market was also positive, with gainers outpacing losers 482 to 378, while 456 counters were unchanged, 1,012 untraded, and 21 others suspended.

Turnover improved to 3.76 billion units worth RM2.40 billion from 3.28 billion units worth RM2.38 billion on Tuesday.

Rakuten Trade equity research vice-president Thong Pak Leng said the performance of the local bourse was in tandem with the regional markets as investors are cautious ahead of the US Federal Reserve’s (Fed) rate decision later on Wednesday.

He noted that economists worldwide foresee the Fed keeping its benchmark overnight borrowing rate in the range of 5.25% to 5.5%.

“As for the local bourse, sentiment might shift towards caution amid increasing market risks and global market volatility.

“Yet, we reckon the valuation of the benchmark index is still appealing, offering opportunities for investors. We anticipate the FBM KLCI to remain in its sideways pattern with an upside bias for the rest of the week, pending new catalysts to emerge, and move between the 1,445-1,455 range,” he told Bernama.

Market Daily Report: Bursa posts modest gains amid Cabinet reshuffle

KUALA LUMPUR (Dec 12): Bursa Malaysia ended choppy trading with modest gains on Tuesday, driven by late buying in selected plantation and banking heavyweights although cautious trading was seen throughout the day amid the reshuffling of the Cabinet ministers earlier in the morning.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.73 of a point to 1,447.12 from Monday's closing of 1,446.39.

The key index opened 0.27 of a point easier at 1,446.12 and moved between 1,444.26 and 1,447.72 throughout the day.

Market breadth was negative, with losers outpacing advancers by 483 to 388, while 457 counters were unchanged, 1,003 untraded, and 23 others suspended.

Turnover narrowed to 3.28 billion units worth RM2.38 billion from 3.82 billion units worth RM2.47 billion the previous day.

Apex Securities Bhd head of research Kenneth Leong said the KLCI ended higher but on a flattish note at less than one point as caution prevails following the reshuffling of Cabinet ministers.

“The performance took cue from the better performance recorded on Wall Street overnight and was in line with the mostly positive performance across regional markets,” he said.

Leong also said that looking ahead, Bursa Malaysia is expected to see sideways consolidation on the uncertainty surrounding the US Federal Reserve’s (Fed) interest rate decision to be announced on Wednesday.

Market Daily Report: Late buying lifts Bursa to end at intraday high

KUALA LUMPUR (Dec 11): Bursa Malaysia snapped five consecutive days of losses last week to end higher on Monday on late buying amid the mixed regional market performance, said an analyst. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.42 points to 1,446.39 from Friday’s closing of 1,441.97.

The barometer index opened 0.65 of a point easier at 1,441.32 and thereafter hit a low of 1,440.4 before moving in an upward trajectory to end at its intraday high.

Market breadth was positive, with gainers outpacing decliners by 483 to 397, while 463 counters were unchanged, 988 untraded and 23 others suspended.

Turnover increased to 3.82 billion units worth RM2.47 billion from 2.99 billion units valued at RM1.99 billion last Friday (Dec 8).

Rakuten Trade equity research vice president Thong Pak Leng said the key regional indices trended mixed due to cautious trading ahead of the US inflation data, US Federal Reserve (Fed) policy decision, and retail sales numbers later this week.

"On the domestic front, we expect the market undertone to remain cautious given the uncertainties on the global economic outlook, nonetheless, the valuation of the benchmark index remains attractive. 

"As such we anticipate the FBM KLCI to trend sideways with an upside bias within the range of 1,435 to 1,455 for the week," he said. 

Among the heavyweights, both Maybank Bhd and Public Bank Bhd added a sen each to RM9.05 and RM4.25 respectively, CIMB Group Holdings Bhd climbed two sen to RM5.78, Petronas Chemicals Group Bhd put on 11 sen to RM7.17, and Tenaga Nasional Bhd was flat at RM9.91. 

Of the actives, Saudee Group Bhd was flat at 2.5 sen, YTL Corp Bhd perked up 18 sen to RM1.87, YTL Power International Bhd jumped nine sen to RM2.51, Ekovest Bhd firmed up three sen to 47 sen, and Widad Group Bhd edged up half a sen to 47 sen. 

Market Daily Report: KLCI barely moves as investors stay on sidelines

KUALA LUMPUR (Dec 8): Soft market sentiment saw Bursa Malaysia's barometer index barely move throughout the day as global uncertainties continued to keep investors on the sidelines pending crucial US jobs data slated for release on Friday.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.88 of a point to 1,441.97 with continued modest gains by Petronas Chemicals Group Bhd helping to curb further losses.

The barometer index opened 1.12 points better at 1,443.97 from Thursday's close of 1,442.85 and moved between 1,441.09 and 1,446.13 on Friday.

Market breadth was slightly positive with 453 decliners and 377 gainers, while 488 counters were unchanged, 1,019 untraded, and 43 others suspended.

Turnover shrank to 2.99 billion units valued at RM1.99 billion from Thursday’s 3.01 billion units valued at RM1.98 billion.

Rakuten Trade equity research vice president Thong Pak Leng said investors were wary ahead of a US government jobs report later on Friday followed by Consumer Price Index (CPI) data and the Federal Reserve’s (Fed) meeting outcome next week.

These, coupled with the not-so-rosy regional prints contributed to the cautious sentiment across emerging markets, with most performing weak.

Stocks in Japan finished sharply lower on speculation that the Bank of Japan may end its negative interest rate policy.

On top of that, recent economic data showed Japan’s economy shrank by 2.9% year-on-year in the third quarter of 2023, worse than projected earlier.

Meanwhile, stocks in Hong Kong stayed at their 13-month low on China's economic gloom.

"Simultaneously, the continuous escalation of tensions in the Middle East, which showed no signs of easing, has heightened risk sentiment and adversely impacted the equity markets," he said.

At home, Petronas Chemicals climbed 11 sen to RM7.06 and Maybank Bhd rose three sen to RM9.04.

Market Daily Report: Bursa shares in choppy trading as weak China data weighs

KUALA LUMPUR (Dec 7): Bursa Malaysia saw choppy trading throughout the day on Thursday, with China data further adding pressure to the global equities market, on top of earlier worries over oil market slump.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gave up 2.97 points to 1,442.85 from Wednesday's close of 1,445.82.

The barometer index opened 2.93 points easier at 1,442.89 and moved between 1,441.02 and 1,447.66 on Thursday.

The market breadth was bearish with decliners thumping gainers 603 to 322 while 398 counters were unchanged, 999 untraded and 35 others suspended. 

Turnover increased to 3.01 billion units valued at RM1.98 billion from Wednesday’s 2.8 billion units worth RMM1.81 billion.

China's trade data for November saw exports rise for the first time in seven months, but imports continued to contract, signalling that the overall outlook remains cloudy.

Rakuten Trade equity research vice president Thong Pak Leng said the data has negatively influenced investor sentiment amid the slower-than-anticipated recovery.

China Customs statistics released on Thursday showed exports in US dollar terms rose by 0.5% from a year ago, while imports fell by 0.6%, missing the forecast for a 3.3% increase.

He said this, coupled with a weaker Wall Street overnight and falling oil prices have caused weak market sentiment prevailing across the region.

"Nevertheless, with the FBM KCLI nearing an oversold territory, we expect bargain hunting to emerge anytime soon and anticipate the index to trend within the 1,440-1,450 range towards the weekend.

"From a technical standpoint, if the 1,445 support is broken, the next support level is seen at 1,430, while resistance remains unchanged at 1,465," he said.

Market Daily Report: Bursa margnally lower in listless trading

KUALA LUMPUR (Dec 6): Bursa Malaysia ended on a lower note on Wednesday amid muted trading throughout most of the session.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) lost 3.64 points to 1,445.82 from Tuesday’s close of 1,449.46.

The index opened 1.45 points higher at 1,450.91 and thereafter moved between 1,444.63 and 1,452.07 throughout the day.

Market breadth was negative, with decliners beating gainers 452 to 365, while 471 counters were unchanged, 1,026 untraded and 13 others suspended.

Turnover shrank to 2.8 billion units worth RM1.81 billion from 3.54 billion units worth RM2 billion on Tuesday.

A trader said a broad sell-off in the previous sessions as well as optimism about the US outlook for interest rate cuts helped boost interest for stocks in the early part of the day.

Nevertheless, the market failed to sustain the upbeat momentum as some investors cashed in profit.

Market Daily Report: KLCI pares earlier losses to end slightly lower

KUALA LUMPUR (Dec 5): Bursa Malaysia's barometer index ended slightly lower on Tuesday, paring most of its earlier losses, thanks to a rebound in telecommunications, consumer products and services as well as banking stocks.

At 5pm, the FBM KLCI had fallen 1.56 points to 1,449.46, from Monday's close at 1,451.02.

The index, which opened 0.11 of a point higher at 1,451.13, fluctuated between 1,444.58 and 1,451.59 during the day.

Market breadth was negative, with decliners beating gainers 492 to 369, while 467 counters were unchanged, 986 untraded, and 13 others suspended.

Market Daily Report: Bursa closes lower, tracking regional peers

KUALA LUMPUR (Dec 4): Bursa Malaysia closed lower on Monday in tandem with the weaker regional market performance as investors were cautiously awaiting a slew of key economic data from several countries, a dealer said. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 0.37% or 5.36 points to 1,451.02 from Friday’s close of 1,456.38.

The benchmark index opened 1.41 points weaker at 1,454.97 and moved between 1,448.17 and 1,457.02 throughout the trading session.

Market breadth was negative, with decliners beating gainers by 591 to 306, while 430 counters were unchanged, 995 untraded and 27 others suspended.

Turnover shrank to 3.16 billion units worth RM1.87 billion from 3.23 billion units worth RM2.26 billion last Friday (Dec 1).

Regionally, Hong Kong’s Hang Seng Index dropped 1.09% to 16,646.05, Singapore’s Straits Times Index slid 0.2% to 3,084.08, Shanghai Stock Exchange Composite Index fell 0.29% to 3,022.91, and Japan's Nikkei 225 shed 0.6% to 33,231.27.

Rakuten Trade equity research vice president Thong Pak Leng said investors are waiting for economic data from Japan, Thailand and the Philippines later this week.

"As for the local bourse, we reckon bargain hunting will prevail, buoyed by the consistent strong inflow of foreign funds, improving economic circumstances, and steady interest rate in the United States,” he said. 

As such, he anticipates the KLCI to trend higher within the 1,445-1,465 range for the week, with immediate resistance at 1,465 and support at 1,445.

Meanwhile, Apex Securities Bhd head of research Kenneth Leong expects the local market’s downward bias consolidation undertone to extend as uncertainty persists, while there was an absence of fresh leads.

"Meanwhile, investors will be keeping a close tab on both China and US services and composite data tomorrow," he said. 

Among heavyweights, Maybank Bhd was unchanged at RM9, CIMB Group Holdings Bhd added a sen to RM5.78, while Public Bank Bhd and Tenaga Nasional Bhd gave up four sen each to RM4.28 and RM9.98 respectively, and Petronas Chemicals Group Bhd went down 15 sen to RM7.05. 

As for the most active counters, Fitters Diversified Bhd, Widad Group Bhd and Sapura Energy Bhd flat at five sen, 47 sen and 4.5 sen respectively, Velesto Energy Bhd eased half a sen to 22 sen, and Berjaya Corp Bhd lost 1.5 sen to 28.5 sen.

Market Daily Report: Bursa ends marginally higher

KUALA LUMPUR (Dec 1): Bursa Malaysia ended the week marginally higher due to late buying, particularly in telecommunications and banking stocks, a dealer said.

At 5pm, the FBM KLCI improved 0.25% or 3.64 points to 1,456.38 from Thursday’s close of 1,452.74.

The benchmark index opened 0.74 of-a-point lower at 1,452 and moved between 1,450.09 and 1,456.52 throughout the trading session.

However, market breadth was negative, with decliners leading gainers by 467 to 432, while 435 counters were unchanged, 988 untraded and 27 others suspended.

Turnover shrank to 3.23 billion units worth RM2.26 billion from 4.25 billion units worth RM4.97 billion on Thursday.

Rakuten Trade equity research vice-president Thong Pak Leng said the uncertainty about the regional outlook arose due to mixed economic data from China, leading to anxiety among investors.

"On the local front, we expect the near-term outlook to be positive, supported by the decent earnings performance for the third quarter of 2023 and continuous foreign buying,” he told Bernama.

Among heavyweights, Malayan banking Bhd gained two sen to RM9, Public Bank Bhd added five sen to RM4.32, CIMB Group Holdings Bhd rose 12 sen to RM5.77, Maxis Bhd improved six sen to RM3.96, and Telekom Malaysia Bhd perked up three sen to RM5.30.

As for the most active counters, Velesto Energy Bhd put on half-a-sen to 22.5 sen, Reneuco Bhd went up half-a-sen to 19.5 sen, Widad Group Bhd increased half-a-sen to 47 sen, Leform Bhd ticked up two sen to 34 sen, while Sarawak Consolidated Industries Bhd was unchanged at 77 sen.

On the index board, the FBM Emas Index was 1.75 points weaker at 10,725.65, the FBMT 100 Index slid 1.77 points to 10,394.78 and the FBM Emas Shariah Index slipped 51.78 points to 10,877.58.

The FBM 70 Index tumbled 123.84 points to 14,048.05 while the FBM ACE Index climbed 67.71 points to 5,133.16.